Resources rally drives strong market gain

The share market has posted its best session in seven months due to positive half-year earnings results and strong gains for the miners and the energy producers.

The benchmark S&P/ASX200 index rose 1.2 per cent to 5,909 points, driven by a 2.5 per cent gain for the mining sector and 2.4 per cent rise for the energy sector.

Philip Capital senior client adviser Michael Heffernan said the half-year corporate reporting season was ramping up, while broad factors such as US tax cuts and continued local jobs growth in January were also a positive influence.

"The fundamentals of the market I think remain very strong," Mr Heffernan said.

"We're not shooting the lights out, we're in recovery mode, but the economy is in good shape, there were pretty good performances today and there's no reason the share market isn't going to respond."

US dollar weakness, due to stronger-than-expected US inflation data, drove up commodities and oil prices.